Market News

YIPPEE, the homebuyer tax credit was extended, but also there was a "move-up" buyer credit added to the new bill! Details are as follows:

First time Homebuyers --
Up to $8000 credit or 10% of the purchase price. Purchases after 11/30/09, and need to be under contract by 4/30/2010. Cannot have owned a home in the last 3 years prior to purchase. Income limits - $75,000 if single and $150,000 if married

Move-Up Buyers --
$6500 credit, must have used the current home as a principal residence for 5 years, and new purchase must be a principal residence. The current home can rented or second home or sold, no requirements. New purchase must be done from 12/1/09 and under contract by 4/30/10 and closed by 7/1/10. Income limits - $125,000 - single and $225,000 - married The new home has no requirements for purchase price, but not over $800,000. This purchase may not be between "related parties".

If you have further questions, please contact me, and I will assist you in your answer!

Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - House to Home, Inc.
c: 720-231-6373
Joan@JoanCox.com